Since 1990, Singapore has sought to control motor vehicle ownership by means of an auction quota system, whereby … transferability - are highlighted, and policy lessons are drawn for the design of auction quotas in general …

Faced with dilemmas parallel to countries besieged by road congestions and limited land resources, Singapore has chosen … to adapt a Vehicle Quota System (VQS) whereby car owners are required to bid for a licence in an auction before their … vehicles are allowed onto the road. In this paper, we examine the behaviour of VQS auction prices using a structural time …

Since 1990, Singapore has sought to control motor vehicle ownership by means of an auction quota system, whereby … transferability-are highlighted, and policy lessons are drawn for the design of auction quotas in general …

theoretical properties of three auction formats: Shanghai auction, Guangzhou auction, and Singapore auction. Our main results are … that (1) No equilibrium of the Shanghai auction can guarantee an efficient allocation, (2) the Singapore auction allocates …In Singapore and many Chinese cities, tens of thousands of people participate in car license auctions each month. In a …

contribute to the formulation of this unique policy. These cities, however, have adopted different policy designs. Auction …